AUD set for a bullish run?

Time for #Australian Dollar gains?
The Australian dollar has been heavily sold over recent months and the latest COT report still shows that large speculators have record short positions at -80K+. This is the largest short position of the #G8 currencies. However, the last #RBA meeting showed a board struggling with reasons to keep the AUD weak. Will the RBA inflation projections and positive PMI prints from China support AUD prices from a medium term perspective?